PROFILE
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Matt Krepsik

Chief Executive Officer, Quotient
Matt Krepsik is the Chief Executive Officer for Quotient. Mr. Krepsik previously served as Chief Technology Officer for Quotient beginning in June 2021, leading the company’s strategy and insights team, engineering, product management, business development and media strategy business enabling advertisers and retailers to deliver high performing, data-driven marketing strategies fueled by powerful insights into consumer purchase behavior. Mr. Krepsik also assumed charge of the IT function for Quotient during his tenure as Chief Technology Officer. Prior to his promotion to CTO , Mr. Krepsik served as Quotient’s Chief Analytics Officer from April 2021 through June 2021.
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  • Posted on: 09/12/2022

    Is ‘shrinkflation’ a better option than charging higher prices at retail?

    Shrinkflation isn't anything new, the game of pack-price architecture has been around for years as a mechanism to trade consumers UP to value sizes as well as a mechanism to mitigate inflation. In general, consumers tend be more sensitive to price changes versus pack-size changes unless the category is a core staple with a low price elasticity. For retailers these "new" downsized packages can be important to keep the category in the basket and provide affordable options to meet the needs of consumers and help them stretch their budgets. While downsizing can be a great mitigation to inflation, the benefit quickly erodes as consumers adjust to the new normal. The longer the inflationary cycle persists, brands and retailers will need to look at other mechanisms to engage their customers.
  • Posted on: 08/31/2022

    Should grocers make a big deal out of freezing prices?

    The idea of freezing prices is eye-catching, but it's important that retailers think about the "why." Losing a trip or having a customer switch to a deep discounter has larger and often longer-term consequences to growing and maintaining customer loyalty. Aside from lowering prices, retailers can prioritize engagement by providing personalized offers based on what customers buy and how they buy it. An offer specifically tailored to a consumer's shopping habits that says "we are here to support you" is going to be more meaningful than a generic corporate message of "we're lowering prices."
  • Posted on: 08/03/2022

    How should influencer marketing be measured?

    The biggest challenge to measuring influencer marketing is the social platforms themselves. With the tagging restrictions each platform presents, it is not easy to get a holistic view of a program’s performance across multiple social platforms. The measurement approach will depend on your program objectives, but for Quotient, sales is usually a main KPI for a program. We feel that geo-based A/B testing is the gold standard to show campaign effectiveness if we can show a brand the incremental sales on their programs. There are trusted 3rd party vendors out there we partner with, such as Nielsen, that can deliver results to brands with confidence. Also, a new measurement tool that has gained a lot of traction in the last two years is Click2Cart, which can provide carting metrics, dollars and products in retailer baskets for shoppable programs. This shows purchase intent and is an easy way for CPGs to check online sales to show performance.
  • Posted on: 06/14/2022

    Food prices are going up, up, up. Inflation is tough, tough, tough.

    After sticker shock at the gas pump, one of the first places consumers feel the effects of inflation is at the grocery store. And if they haven’t already changed their purchasing behaviors as a result, given the current trajectory of the market, they soon will. Grocers can get ahead of these shifts by thinking about the types of changes consumers will be making, and offering increased value through promotions to move shoppers in-store or online or affect product choices. It’s becoming a lot less about how product is stocked on the shelf and more about using strategic, personalized promotions to get in front of the right consumers to offer them the precise value they are looking for.
  • Posted on: 04/14/2022

    Will retailers be ready when the third-party cookies crumble?

    The shift away from third-party data gives marketers an opportunity to better connect with consumers if they know how to go about it. Retail media, thanks to the first-party data that powers it, is able to reach authenticated users and further target them based on behavioral data. This can result in brands delivering relevant messages to real consumers and driving awareness and sales.
  • Posted on: 02/24/2022

    Has a new, hybrid shopper emerged out of the pandemic?

    The pandemic really accelerated hybrid shopping -- giving scale to a trend that was already in its infancy. It’s important to note that this isn’t an either/or situation. Rather, we’re seeing a blended modality in which shoppers might be discovering products online and going in-store to purchase them or vice versa. Really, what’s interesting now is the way discovery and shopping are linked between on and offline platforms. As brands learn how to better facilitate discovery online, that’s where we’ll see the true opportunity emerge.
  • Posted on: 02/24/2022

    Should dogs be allowed in stores?

    Ah yes, man’s best friend. If I’m looking at our own data from a recent Quotient survey, over one-third of respondents (33%) noted that they adopted a pet during the pandemic. Reasons for adoption spanned from simply wanting one to boosting mental health. So you could make the assertion that a more pet-friendly policy today would hypothetically have more eager entrants. No bias here (though I do love my dog Hokkaido).
  • Posted on: 02/22/2022

    Are granfluencers a thing?

    There’s room for people of all age groups and demographics in influencer marketing. Older populations have the ability to transcend generations, especially when they can embrace younger tech. And because relatability is what makes influencer marketing so interesting, brands should really look for influencers that share common interests with their target audience vs stereotyping by demographics.
  • Posted on: 02/11/2022

    Should retailers ‘tip’ customers to pick up orders?

    I don’t really see retailers offering financial incentives for click and collect over delivery. Retailers are trying to offer convenience. That means facilitating whatever option works best for the consumer—whether it be click and collect, delivery or some other mechanism of exchange. Instead, I think retailers can focus on offering incentives for growing the basket. For example, are there any relevant promotional offers available that the retailer can highlight to reward shoppers for purchasing two units instead of just one or that discount multiple products within the same brand portfolio? As we continue to wade through an inflationary environment and value remains top of mind for consumers, retailers can strategically spotlight CPG promotions through digital avenues to drive basket size and incremental spend while also helping their shoppers save money.
  • Posted on: 02/11/2022

    Past purchases are no indication of current or future brand loyalty

    This discussion comes back to data—what are you looking at to get the total picture of your customers? Data is becoming more of a commodity, with retailers trying to find new ways to apply the data they have and brands looking to acquire more data on their current and future shoppers. The ultimate end goal for both parties (brands and retailers) is to learn more about their customers, inform decisions and improve results, but the insights they acquire are often incomplete and provide a fractional view of each consumer. In this example, only looking at repeat purchases gives a very myopic view of who your shopper is. There’s more to the story than that. I’d actually argue that chasing loyalty is the wrong problem. Instead, the focus should be on chasing trips. If CPGs want to grow their brand, capturing an incremental customer can be more valuable than getting shoppers to repeatedly buy their product at a specific retailer. After all, there’s only so much incrementality that brands can get out of already-engaged customers. It’s important to keep these shoppers engaged, but acquiring net new buyers and broadening brand appeal is key to unlocking untapped growth for CPGs. Rather than studying their current consumer base, I think brands can focus on smart data instead of big data. Focus on the insights that show you a complete view of the consumer, beyond just one data point like repeat purchases, and really find out who they are and what they want. This will allow brands to focus on consumer relations and touchpoints that can deliver real value to real people.
  • Posted on: 02/04/2022

    NRF 2022: PepsiCo CEO sees bond-building moments amid pandemic

    We've seen consumer behavior fundamentally shift as a result of the pandemic so in that sense, brands absolutely have an opportunity to retain the new and loyal customers they gained over the past two years. The key will be in how they deliver value. Value goes beyond just slashing prices. It's also creating content that speaks to consumers on a one-to-one level and facilitating discovery outside of the brick-and-mortar environment. It used to be that consumers could only discover new products by walking the aisles of their local store. But with the way that today’s consumers shift between online and offline shopping, the world has now become a limitless shelf of products and brands. That means there’s a new role for discovery that didn’t exist before. And when I say discovery, I don’t mean driving awareness or trial. Discovery is more intentional; it introduces people to products that they actually want to add to their cart. Sometimes shoppers need a little push, like finding a great coupon for a product they’ve been meaning to try. I think for retailers to retain their shoppers, they should start looking into digital ways to support discovery out of aisle and make it easier for people to shop online.
  • Posted on: 02/04/2022

    NRF 2022: Grocers stay prepared for tomorrow’s new and unexpected challenges

    The future of grocery retailers is to drive greater engagement with shoppers. Mr. Kohli is absolutely right that it will be done by leveraging value. In a value-oriented world, grocers have the opportunity to try some really interesting, creative promotions that go beyond just simply slashing prices. To take advantage of this opportunity, grocers should focus on value creation. To do so, they need think through the correlation between consumer behavior and action—what are the most impactful ways to move units and drive more repeat shopping trips? Personalization plays a pivotal role in this (will a promotion delivered now or one that can be used later be most impactful to our shoppers?) as does delivering a seamless omnichannel experience (how do we reach this shopper and is our message and offer the same across channels?). Consumers are imminently predictable but extremely savvy, so taking time to engage with your consumers across multiple channels, find the right partners and get to know your shopper through smart data will ultimately ensure grocers succeed.
  • Posted on: 12/15/2021

    Is the BOPIS experience getting any better?

    While many shoppers were introduced to click and collect, also known as BOPIS, during the pandemic and have continued using it out of convenience, where the service really stands to improve is in the discovery phase. Think about Amazon, for example. They're relentless in trying to solve discovery through their recommendations, but even they struggle to highlight the breadth of an endless digital shelf. Consumers were once able to browse thousands of square feet in-store and have now been reduced to mere inches on a smart phone. Brands and retailers alike have to work overtime to actively support discovery and while we have came a long way, we are just in the early innings with more innovative to come as the experience and discovery process evolves. And then from a brand perspective, there's also the matter of aligning the consumer experience—from in-store to online and everything in between. Yes, marketing and incentivizing should play a part to keep consistent demand for the service, however, retailers should first ensure their click and collect service is as seamless and engaging as other retailer channels. Otherwise, you risk serving up a bad brand experience and it takes a lot to bring a customer back once you’ve lost them. Consistency is key for customer loyalty—marketing and promotions can work their magic once you’ve built a great experience.
  • Posted on: 12/09/2021

    Should grocers get comfortable with food inflation?

    Inflation will be around for the foreseeable future. It is a tough challenge for grocers to face, especially as we are deep into the holiday season. Rising prices continue to dominate consumers’ thoughts and actions at this time of year in particular, so any relief that grocers can provide will certainly set them apart. And while coupons and discounts certainly help consumers navigate increased pressure on their pocketbooks, they're also a channel through which advertisers can extend helpful, meaningful support to each of their consumers—creating new moments of connection and opportunities for increased brand loyalty. Resilience and creativity are key since margins are razor thin — uncovering operational efficiencies, implementing programmatic promotions that can flex as the market does, and full transparency in communicating the situation to consumers — are a few mitigation measures that should be considered to ease the burden on shoppers’ wallets and minds alike. How grocers approach rising prices this holiday season will have a lasting impact competitively.
  • Posted on: 12/02/2021

    Did Cyber Monday hit its peak in 2020?

    More than anything, I think Cyber Monday 2021 showed us that both retailers AND consumers are ready to move on from a limited shopping window towards an ongoing event that delivers value to customers. People don't need to get up at 4 am Eastern Standard Time—regardless of where they live in the country—with sleepy eyes, cups of coffee and a credit card in hand in the hopes of catching a deal. Instead, retailers did an exceptional job this year of spreading out the promotion window—pushing sales even earlier to offset supply chain issues and lessen the hype of one big discount “event.” By doing so (as the Adobe results show) they were able to reduce their discounts, which is better for their bottom line. As consumer behavior continues to shift to mixed-mode shopping, the cache of “Cyber Monday” will evolve from a mandatory requirement for everyone to a nostalgic event that brands and retailers can merchandise and plan around to extend shoppers' savings throughout the holiday season. Ultimately as a promotional event, Cyber Monday has cemented a place for itself in the annual calendar and will always be a good time for retailers to push sales.
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